Business

Stock in News Spotlight: Crown Holdings (NYSE:CCK)

Crown Holdings (NYSE:CCK) stock experienced trading -2.85% off 52-week high price. On the other end, the stock has been noted 54.79% away from low price over the last 52-weeks. The stock disclosed a move of 3.42% away from 50 day moving average and 15.04% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.57% off 20-day moving average. It has market cap of $10.56B.

On Feb. 4, 2020, Crown Holdings (NYSE:CCK) declared its financial results for the fourth quarter and year ended December 31, 2019.

Highlights

  • Fourth quarter earnings per share of $0.64 versus $0.40 in 2018
  • Fourth quarter adjusted earnings per share of $1.04 versus $1.00 in 2018
  • Full year cash from operations of $1.2 billion; record adjusted free cash flow of $754 million
  • Beverage can volumes up 7% in quarter, 3% for the year
  • Deleveraging plans on target
  • Beverage can capacity projects on schedule
  • Beverage can volumes expected to be up more than 5% in 2020
  • Increase in 2020 capital spending to support growing beverage can demand

Fourth Quarter Results

Net sales in the fourth quarter were $2,791 million compared to $2,734 million in the fourth quarter of 2018, reflecting a 7% increase in beverage can volumes.

Income from operations was $199 million in the quarter compared to $218 million in the fourth quarter of 2018.  Segment income was $285 million in the fourth quarter compared to $279 million in the prior year fourth quarter.

 The USA based company Crown Holdings moved with change of 1.90% to $76.05 with the total traded volume of 1340017 shares in recent session versus to an average volume of 1.09M. The stock was observed in the 5 days activity at 0.69%. The one month performance of stock was 5.26%. CCK’s shares are at 3.88% for the quarter and driving a 49.32% return over the course of the past year and is now at 4.84% since this point in 2018.  Right now the stock beta is 1.49. The average volatility for the week and month was at 2.27% and 2.01% respectively. There are 138.80M shares outstanding and 132.95M shares are floated in market.

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